BAINAMI @ PROXY ACCOUNT & MONEY LAUNDERING /HUNDI ACCOUNTS-ILLEGAL INTERNATIONAL MONEY TRANSFER & FUNDING’S

BAINAMI @ PROXY ACCOUNT & MONEY LAUNDERING /HUNDI ACCOUNTS-ILLEGAL INTERNATIONAL MONEY TRANSFER & JEHAD FUNDING’S

This has reference to compliance email dated in their email compliance and circle office authority are forcefully asking me to take in depended action at my one without involving the risk mitigating departments of banks.

In this regard please read my observation for your consideration and necessary next course of action at your end.

DETAILS AS PER ACCOUNT OPENING FORM

Account number 1001xxxx
Title of account Al xxxxx
Address Shop xxxxxxxxxxxxxxxxxxx, Shireen Jinnah Colony, Karachi.
Nature of Account Sole Proprietor, Current Account, Resident.
Currency PKR

SOLE PROPRIETOR DETAILS AS PER AOF,

Proprietor Name Mr. Amiruallah

CNIC No 12201-, Non-Karachi Resident.

Muslim Commercial Bank Ltd has highest Number of Benami + Bogus/Fake @ Proxy Account in their Branches

Muslim Commercial Bank ltd Account Opening Form with clear Difference between Account Holder name & Benami Beneficiary @ Proxy Signature

Muslim Commercial Bank ltd Account Opening Form with Actual Account Holder personal Details

Muslim Commercial Bank Ltd, fake Customer Request for Business Account opening

Documents Missing / Violated

1. If Account was Partnership account then Partnership Deed not obtained
2. If Partnership account then Second Individual particulars are not filled/Missing on Account Opening Form.
3. Account operating Instruction is single.
4. Ø Signature Difference undertaking wrongly filled.

Muslim Commercial Bank Ltd, Unapproved Account Opening Per-forma/singed under-pressure during account opening process its suicidal under for customer's

Muslim Commercial Bank is the major bank violating Anti Money laundering law in Pakistan

Account opening form was not accurately filled at the time of account opening and neither was properly checked by Central Processing Unit on dated 21-Jan-2010. In-fact said account was opened in violation of MCB bank Ltd Operation Manual V-2, December 2010 version subheading 1.2 screen short for your ready reference as Annexure. 1

Muslim Commercial Bank Ltd, Current Accounts Opening Requirement & Details as per SOP

Said Account was marked as Sole proprietor account in accordance of Operational Manual sub heading No 4.2 as Annexure 2

Muslim Commercial Bank Ltd, SOP for Proprietorship Account opening

At the time of account opening no proper KYC/CDD/EDD confirmation identification of actual beneficiary was established by CPD while opening account, neither any ROM/Circle Compliance officer /audit team pointed out said discrepancy in fact it was never reviewed by branch manager and operation staff. Account was opened in violation of Muslim Commercial Bank Ltd Know your customer & Anti money Laundering handbook subheading 2.1 Annexure 3

Muslim Commercial Bank Ltd, Standard Operating Procedures for Element of Banks Customer Due Diligence CDD & Know your customer KYC Policy

A typical Money Laundering Scheme flow chart of Anti Money laundering around the world

Said account was opened by CPD in pursuance of operation manual sub heading 3.1.2 unfortunately it was violated by them and should have returned the Account Opening Form due discrepancy in Account Opening Form and Neither related documents were checked as per operation Manual requirement as stated by SBP. As Annexure 4

Muslim Commercial Bank Ltd, Standard Operating Procedures for E2E Account Opening By Centralised Account Opening Being Opened at CPU's

Said account was delivered by DSC as per definition given in operation manual subheading

As Annexure 5

Muslim Commercial Bank Ltd, Standard Operating Procedures for Direct Sales Consultants JD & Responsibility for NTB (New to Business) Accounts

Annexure 6

Muslim Commercial Bank Ltd, Standard Operating Procedures for Accounts Maintenance process

Mostly these fake /Bainame accounts were opened due to targets assigned to DSC/PBA and Branch managers, just to attain the accounts number bank reputation are put on risk, soon after the account numbers are obtained no proper support and training are given to branch staff and circle authorities are take less efforts to retain the old account with good credibility established over period. Later on circle authorities pressurise branch manager to file STR, no circle management is involved neither give support to staff during the FIA and other department inquirers instead branch manager has to get register the FIR in Federal Investigation Agency. Therefore I would not give my comments either satisfy or dis-satisfy because as per Pakistan judiciary system I am not the content writer neither the witness for this account and I would request you to please take necessary action at your end.

How Muslim Commercial Bank Ltd, Chairmen Mian Mansha funding to Mian Nawaz Sharif Pakistan Muslim League (Nawaz Group) for Elections

In-fact RH/ROM/Compliance officer deliberately did not wrote any comments in executive register for ongoing compliance quires and does not immediate action to protect bank interest it due to lack interdepartmental coordination and lack of trust on each other, mechanism should be devised to in accordance of bank dual control and RH/ROM should be aware of new account and must monitor the quality of such account which can be potential threat to bank interest.

Muslim Commercial Bank Ltd, Standard Operating Procedures for Procedures for Reporting Suspicious Transaction Report to State Bank of Pakistan

Muslim Commercial Bank Ltd, Standard Operating Procedures for Reporting Suspicious Transaction Report to State Bank of Pakistan Regulator for Anti Money laundering

Matter pertain to operation side therefore action should come from ROM for next course of action for this account and kindly deputed operation manager who are capable for this assignment and can read and write and take proper action in alignment with his line manager and has proven track record and are taking their JD sincerity.